Provides for the disbursement of monies from the tribal-state compact revenue account fund to the city of Buffalo for disbursement to the Michigan Street African American Heritage Corridor Commission.
STATE OF NEW YORK ________________________________________________________________________ 580 2011-2012 Regular Sessions IN ASSEMBLY (PREFILED) January 5, 2011 ___________Introduced by M. of A. PEOPLES-STOKES -- read once and referred to the Committee on Ways and Means AN ACT to amend the state finance law, in relation to disbursing monies from the tribal-state compact revenue account fund to the city of Buffalo for disbursement to the Michigan Street African American Heritage Corridor Commission THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 99-h of the state finance law, as amended by chap- ter 747 of the laws of 2006, is amended by adding a new subdivision 5 to read as follows: 5. MONIES WHICH ARE APPROPRIATED AND RECEIVED EACH YEAR BY THE STATE AS A PORTION OF THE NEGOTIATED PERCENTAGE OF THE NET DROP FROM ELECTRON- IC GAMING DEVICES THE STATE RECEIVES IN RELATION TO THE OPERATION OF A GAMING FACILITY IN THE CITY OF BUFFALO, WHICH SUBDIVISION THREE OF THIS SECTION REQUIRES TO BE A MINIMUM OF TWENTY-FIVE PERCENT, SHALL BE BUDG- ETED AND DISBURSED BY THE CITY OF BUFFALO IN THE FOLLOWING MANNER: (A) WITHIN THIRTY-FIVE DAYS UPON RECEIPT OF SUCH FUNDS BY SUCH CITY, ONE PERCENT OF THE TOTAL ANNUAL AMOUNT RECEIVED IN EACH YEAR, NOT TO EXCEED TWO HUNDRED THOUSAND DOLLARS ANNUALLY, SHALL BE TRANSFERRED TO THE MICHIGAN STREET AFRICAN AMERICAN HERITAGE CORRIDOR COMMISSION TO BE USED FOR THE DEVELOPMENT, PRESERVATION AND PROMOTION OF THE AREA'S UNIQUE HISTORIC, CULTURAL AND NATURAL RESOURCES; AND (B) ALL OTHER MONIES APPROPRIATED OR RECEIVED FOR DISTRIBUTION PURSU- ANT TO THIS SUBDIVISION AFTER THE TRANSFER OF MONEY PURSUANT TO PARA- GRAPH (A) OF THIS SUBDIVISION IN EACH YEAR SHALL BE ALLOCATED TO THE CITY OF BUFFALO FOR SUCH PUBLIC PURPOSES AS ARE DETERMINED, BY THE CITY, TO BE NECESSARY AND DESIRABLE TO ACCOMMODATE AND ENHANCE ECONOMIC DEVEL- OPMENT, NEIGHBORHOOD REVITALIZATION, PUBLIC HEALTH AND SAFETY, AND INFRASTRUCTURE IMPROVEMENT IN SUCH CITY AND SHALL BE DEPOSITED INTO THEEXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04731-01-1 A. 580 2
TRIBAL REVENUE ACCOUNT OF THE CITY AND ANY AND ALL INTEREST AND INCOME DERIVED FROM THE DEPOSIT AND INVESTMENT OF SUCH MONIES SHALL BE DEPOSIT- ED INTO THE GENERAL OPERATING FUND OF SUCH CITY. S 2. This act shall take effect immediately, provided, however, that the amendments to section 99-h of the state finance law made by section one of this act shall not affect the expiration of such section and shall be deemed to expire therewith.